The cryptocurrency industry is still relatively young compared to the other traditional systems that people utilise to earn potential profits. The first cryptocurrency was developed in 2009 by Satoshi Nakamoto – Bitcoin, making it younger than most people that are currently enjoying it. Nevertheless, the past 13 years have had their fair share of memorable moments and significant events that have impacted and made crypto what it is today.
Similar to any good gamechanger, the dramatic rise of cryptocurrency trading also comes with plenty of peaks and valleys. These moments consist of various news that made people laugh, cry, angry or speechless – from important meetings and scams to funny stories and iconic memes. The number of scamming cases in the industry is surprisingly high; this is why some people search for platforms like Bitcoin Motion or eToro so they can be connected to reliable brokers to ensure safety when trading. Read more details about the history of Bitcoin Motion Tech. Even though we are sure the best is yet to come, let us see some of the most memorable moments in the history of crypto trading:
1. First Bitcoin transaction
There’s no denying that everyone loves pizza but who would have thought that this love would lead to his popularity and a spot in crypto history? Laszlo Hanyeckz regulated the very first of millions of Bitcoin transactions by using cryptocurrency to buy pizzas. On May 22, 2010, he paid for two large pizzas with a massive 10,000 bitcoins, which at that time were worth forty bucks.
2. The Bitcoin Sign Guy
Whether intentional or by accident, a photobomb always brings a good laugh. However, The Bitcoin Sign Guy is responsible for one of the most profitable photobombs of all time. Last July 2017, a televised testimony of US Federal Reserve Chair Janet Yellen to Congress was aired, but what caught the eyes of the audience was the man seated behind her who randomly helped up a yellow paper with a message: Buy Bitcoin. Though he was immediately escorted out of the room, fans learned his wallet address and sent him Bitcoins for the stunt.
3. The Mt. Gox heist
When it comes to the biggest downfall and scandal in the history of cryptocurrency, it is hard to go through the list without locating Mt. Gox’s downfall on the top. The Mt. Gox crypto exchange was at its peak of trading from 2010-to 2014, which handles 70% of Bitcoin transactions. However, security concerns were all over the platform during that time, which led to the pausing of withdrawal transactions in the exchange. It was then announced that the company had lost over 800,000 Bitcoins from its users; months later, Mt. Gox filed for bankruptcy.
4. Legendary Hal Finney
Hal Finney is the one to thank for allowing Bitcoin to act as a medium of exchange like traditional money, but where did his fame start? On January 11, 2009, Satoshi Nakamoto completed the first person-to-person Bitcoin transaction worth 10 BTC. The person on the other end of the transaction is none other than Hal Finney, a famous cryptographer and computer scientist. Unfortunately, later in 2009, he was diagnosed with ALS and passed away in August 2014.
5. The HODL meme
Deemed a serious and risky world, there is still plenty of room for fun in the crypto-verse, and one of the lists is how the HODL term started. Back in 2013, a drunken rant on a crypto message board surprisingly became a crypto meme and a permanent crypto term. As Bitcoin flew past $1,000, a user, GameKyuubi posted a ridiculous post with the typo: I AM HODLING instead of I AM HOLDING. Thanks to GameKyuubi, millions of investors benefited from the idea of never selling during a dip.
6. The Dogecoin parody
The doge is a lovely little meme with the logo of a fluffy Shiba Inu dog, and its Comic Sans thoughts began as an Internet meme in 2013 but eventually made their way into the crypto world via Dogecoin in the later parts of the year. This peer-to-peer crypto is built on similar foundations to Litecoin, and its developers started it as a joke, but Dogecoin managed to stick around and even reached a $60 million market value. The Dogecoin community even worked together and funded the Olympic journey of the 2014 Jamaican bobsled team, built a well in Kenya and sponsored a NASCAR car.
The cryptocurrency industry may constantly be developing but has been in the world for a few years already and has been accepted and incorporated by millions of businesses and individuals worldwide. Since its development, there have been countless events that happened in the world of crypto; while some only gained fame for a short period, some events are hard to forget and have made it to the list of memorable moments in crypto history.